SHA:600239 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-345.21	-49.46	-75.83	-837.83	-506.8
Depreciation & Amortization	306.2	309.67	301.01	253.39	199.61
Other Amortization	15.53	24.26	36.19	215.2	103.72
Loss (Gain) From Sale of Assets	-33.77	-6.07	-6.85	-86.98	-0.65
Asset Writedown & Restructuring Costs	112.4	17.99	20.61	29.77	723.65
Loss (Gain) From Sale of Investments	107.24	90.19	-124.85	-949.58	-2,222
Provision & Write-off of Bad Debts	-	5.97	-2.33	10.34	-4.91
Other Operating Activities	228.6	275.25	226.59	1,422	2,721
Change in Accounts Receivable	258.83	170.52	756.94	15,127	25,618
Change in Inventory	248.72	258.61	256.03	526.52	3,880
Change in Accounts Payable	-150.27	-1,255	-185.82	-16.61	-3,091
Operating Cash Flow	776.95	-27.4	1,254	15,823	27,377
Operating Cash Flow Growth	-	-	-92.08%	-42.20%	4807.15%
Capital Expenditures	-11.45	-16.66	-15.2	-18	-84.93
Sale of Property, Plant & Equipment	0.08	29.43	0.2	0.06	0.89
Divestitures	-	-	29.37	2,779	2,380
Investment in Securities	2.19	-60	-36.89	46.03	430.23
Other Investing Activities	-91	20	-50	48.36	716.03
Investing Cash Flow	-100.18	-27.24	-72.53	2,856	3,442
Long-Term Debt Issued	290	800.28	-	1,989	967.16
Total Debt Issued	290	800.28	-	1,989	967.16
Long-Term Debt Repaid	-270	-667.05	-863.29	-20,087	-31,143
Total Debt Repaid	-270	-667.05	-863.29	-20,087	-31,143
Net Debt Issued (Repaid)	20	133.23	-863.29	-18,097	-30,176
Common Dividends Paid	-137.89	-144.83	-109.45	-539.61	-1,438
Other Financing Activities	-538.02	-18.33	-7.85	19.32	41.29
Financing Cash Flow	-655.91	-29.93	-980.59	-18,618	-31,572
Net Cash Flow	20.86	-84.57	200.46	61.02	-752.59
Free Cash Flow	765.5	-44.06	1,238	15,805	27,292
Free Cash Flow Growth	-	-	-92.16%	-42.09%	5504.27%
Free Cash Flow Margin	43.63%	-2.28%	63.47%	615.37%	451.32%
Free Cash Flow Per Share	0.48	-0.03	0.82	9.81	17.23
Cash Income Tax Paid	252.94	960.4	254.36	217.09	512.04
Levered Free Cash Flow	-52.44	-255.96	911.43	-4,790	-12,322
Unlevered Free Cash Flow	-52.44	-101.58	1,063	-3,879	-10,623
Change in Working Capital	385.95	-695.21	879.03	15,767	26,364

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.